Home values in Las Vegas will appreciate by 8% in 2005 and home building permits will drop to about 30,000 said Dennis Smith, president of Home Builders Research. He made these projections Tuesday at Las Vegas Housing Outlook 2005, which drew a sellout crowd of 2,000 to the MGM Grand Garden Arena. Recorded sales of new homes totaled 29,472 in 2004, compared with 25,230 the previous year, and are expected to reach 34,000 this year, including condominium conversions, Smith said. Las Vegas real estate is definetly not suffering from a shortage of media attention.

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